Charles Schwab CEO Rick Wurster told Bloomberg Television on Friday 16 October that the firm receives a weekly report on blocked AI agents, and that large agents are stopped in the tens and twenties each week. He named Meta's Muse specifically. His stated concern is not the technology but the liability chain: clients hand login credentials to an agent, the agent acts, and his question was who is liable when it goes wrong.
Schwab is not blocking AI outright. The firm plans secure read-only links through MCP servers, letting a client's chosen model check balances and run research under Schwab's rules, with money movement excluded. Wurster would rather clients used Charley, Schwab's own assistant announced on 30 September. He read the low block count as evidence clients are not yet ready to hand accounts to AI, which is one reading of it.
JPMorgan took the same position three days earlier. On the 13 October earnings call, Jamie Dimon said the bank will not let outside AI agents act inside its systems and warned about rogue agents. Per Cybernews, JPMorgan already permits some third-party tools to view account data while blocking payments and transfers. The shape across both firms is the same: read yes, write no, and use ours if you want both.